Egypt-based fintech startup Bokra has successfully closed a $4.6 million pre-seed round. The funding was led by DisrupTech Ventures and SS Capital, alongside other notable investors, marking a significant milestone in Bokra's journey towards offering goal-based investment and saving products through asset-backed securities.
Founded in 2023 by Ayman El-Sawy, Bokra has emerged as a trailblazer in empowering retail and SME investors to save and invest across various asset classes. The startup aims to address several challenges faced by individuals and small businesses, including the lack of personalized investment planning, fragmented investment applications, non-transparent fee structures, and barriers associated with high-ticket physical assets.
Bokra's innovative platform offers personalized and balanced financial and investment planning across different asset classes, leveraging asset-backed securities for the first time. By enabling fractional ownership of diverse products, Bokra empowers users to manage and grow their wealth effectively.
Ayman El-Sawy, founder and CEO of Bokra, expressed his commitment to democratizing high-yield and asset-backed investment opportunities for retail investors. He highlighted the role of Bokra's advanced fintech solutions and the extensive expertise of its management team, spanning up to 120 years in financial technology and the non-banking financial sector.
Mohamed Okasha, founder and managing partner at DisrupTech Ventures, commended Bokra's strategic timing and innovative approach to addressing the growing demand for alternative investment solutions. With a significant portion of the population remaining unbanked, Okasha emphasized the potential impact of Bokra's goal-based and asset-backed securities products on millions of Egyptians.
Samer Sallam, Chairman of SS Capital, underscored the strategic importance of the funding infusion in enabling Bokra to offer a comprehensive suite of offerings to users across the region. SS Capital's support reflects a commitment to backing promising ventures with transformative potential.
Scheduled for launch in Q2 2024, Bokra's user journey aims to be personalized and straightforward. Through a comprehensive questionnaire, users will determine their risk appetite, investment preferences, and contribution amounts. The platform's features, including scenario playing and a dashboard for tracking financial goals, enhance user experience and enable informed decision-making.
Bokra's successful funding round and its innovative approach to wealth management underscore the growing momentum of fintech startups in the MENA region, signaling a shift towards inclusive and accessible financial services for all.
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